SoftBank’s Arm files confidentially for U.S. IPO, Reuters reports

SoftBank Group (SFTBY), which said in March it planned to list chip maker Arm Ltd in the U.S. stock market, has filed with regulators confidentially for a U.S. stock market listing, people familiar with the matter told Reuters’ Anirban Sen and Echo Wang. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8B and $10B, setting the stage for this year’s largest initial public offering, the sources said. SoftBank has been targeting a listing for Arm, which competes with Intel (INTC) and others, since its deal to sell the semi chip designer to Nvidia (NVDA) for $40B collapsed last year because of objections from antitrust regulators, the report noted. Arm’s IPO preparations are being led by Goldman Sachs (GS), JPMorgan Chase (JPM), Barclays (BCS) and Mizuho Financial Group (MFG), the report added. Reference Link